Llinois Tool Works Q3 Earnings Top Estimates; Narrows FY23 EPS Outlook Range
(RTTNews) - Illinois Tool Works, Inc. (ITW) reported Tuesday that net income for the third quarter increased to $772 million or $2.55 per share from $727 million or $2.35 per share in the year-ago quarter.
Operating revenue for the quarter edged up 0.5 percent to $4.03 billion from $4.01 billion in the same quarter last year, with organic revenue growth of 0.2 percent.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.46 per share on revenues of $4.09 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company now projects earnings in a range of $9.65 to $9.85 per share on revenue growth of 1 to 2 percent, with organic revenue growth of 2 to 3 percent.
Previously, the company expected earnings in the range of $9.55 to $9.95 per share on revenue growth of 2 to 4 percent, with organic revenue growth of 3 to 5 percent.
The Street was looking for earnings of $9.75 per share on revenue growth of 2.1 percent to $16.27 billion for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Illinois Tool Works Q2 Earnings Top Estimates; Trims FY24 Outlook
Illinois Tool Works Q1 Earnings Top Estimates; Boosts FY24 EPS Outlook
Illinois Tool Works Boosts FY22 EPS Outlook As Q2 EPS Tops Estimates
Sensex, Nifty End Choppy Session Little Changed
European Shares Inch Higher In Cautious Trade
Asian Shares Modestly Higher Before Pivotal US Jobs Report
European Shares Set For Steady Open Before US Jobs Report
